The Center for Medicare & Medicaid Services (CMS) recently sent notifications to all Durable Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) suppliers announcing that dentists are no longer exempt from the DMEPOS Surety Bond requirements.
If you are a DMEPOS provider, what does this mean for you?
- You must obtain a Surety Bond with a coverage minimum of $50,000 per practice location
- The Surety Bond must be obtained through an authorized surety company within 60 calendar days from the date on the Medicare notification that was sent to you in January of 2019
- This requirement applies to all Medicare providers, even those that are non-participating
- Failure to obtain the Surety Bond in this time frame will result in Medicare Provider Transaction Access Number (PTAN) deactivation
- Failure to obtain the Surety Bond in this time frame will result in Medicare Provider Transaction Access Number (PTAN) deactivation
- The new requirements are further explained HERE”
How We Can Help
Complete and submit the Commercial Surety Bond Application (Hyperlink to the Dental Bonds page). It will then be processed by one of our A+-rated carriers, Cincinnati Insurance Company. Prices start as low as $250 per bond. For more information, please call us at 865-546-0761, or send an email to our office at info@shaferinsurance.com.”